Office of Hearing Officers

The Office of Hearing Officers is an office of impartial adjudicators of disciplinary cases brought by FINRA’s Department of Enforcement against FINRA members.

The Office of Hearing Officers maintains strict independence from FINRA's regulatory programs and is physically separated from other FINRA departments.

Hearing officers are not involved in the investigative process. Employment protections exist for hearing officers to further ensure their independence; they may not be terminated except by the FINRA Chief Executive Officer, with a right to appeal to the Audit Committee of FINRA's Board of Governors.

View:  Orders and Decisions Chronologically  |  Orders by Topic  |  Orders by Rule
Date of Decision Proceeding No. Title Type Order No.sort descending
Aug 1, 2006 C05050015 Hearing Panel Decision in Department of Enforcement vs. Kevin Calandro and James W. Browne Disciplinary Decision
Jul 25, 2016 FR160001 Merriman Capital Inc. Expedited Decision
Aug 11, 2003 C3B020015 Hearing Panel Decision in Department of Enforcement v. Davrey Financial Services, Inc., and Pravin R. Davrey Disciplinary Decision
Dec 19, 2007 C10040052 Hearing Panel Decision in Department of Enforcement v. Scott Mathis Disciplinary Decision
Mar 19, 2000 C10990014 Hearing Panel Decision in Department of Enforcement v. Stephen Earl Prout Disciplinary Decision
Oct 2, 2015 2013036799501 APPEALED: Michael Casas Disciplinary Decision
May 31, 2012 2007011413501 Extended Hearing Panel Decision in Department of Enforcement v. Brookstone Securities, Inc., Antony Lee Turbeville, Christopher Dean Kline, and David William Locy Disciplinary Decision
Jun 27, 2001 CAF000033 Hearing Panel Decision in Department of Enforcement v. Dennis Sturm Disciplinary Decision
Sep 16, 2004 C9B040033 Hearing Panel Decision in Department of Enforcement vs. Robert M. Ryerson Disciplinary Decision
Jun 13, 2014 2010025350001 Hearing Panel Decision in Department of Enforcement v. Roric E. Griffith Disciplinary Decision
Mar 3, 2017 2014039285401 APPEALED: Southeast, N.C., Inc. and Frank Harmon Black Disciplinary Decision
Feb 1, 1999 ARB980019 Non-Summary Suspension Proceeding ARB980019 Expedited Decision, Non-Summary Proceeding
Feb 29, 2016 2012034936005 APPEALED: David Joseph Escarcega Disciplinary Decision
Jan 11, 2013 2009016764901 Hearing Panel Decision in Department of Enforcement v. Robert Durant Tucker Disciplinary Decision
Dec 15, 2005 C9B040080 Hearing Panel Decision in Department of Enforcement vs. Morton Bruce Erenstein Disciplinary Decision
Mar 31, 2015 2011027666902 APPEALED: Merrimac Corporate Securities, Inc. and Robert Nash Disciplinary Decision
Nov 21, 2001 C07010017 Hearing Panel Decision as to Respondent Redacted Decision
Jun 2, 2009 2005000324301 Hearing Panel Decision in Department of Market Regulation v. Jerry William Burch Disciplinary Decision
Dec 15, 1998 C9A980021 Hearing Panel Decision in Department of Enforcement v. Robert J. Kendzierski Disciplinary Decision
Mar 24, 2002 FPI010004 Hearing Panel Decision in Department of Enforcement v. Toni Valentino Expedited Decision, Rule 9540 Suspension Decisions
Aug 16, 2006 E8A2004065102 Hearing Panel Decision in Department of Enforcement v. Respondent Redacted Decision
Aug 4, 2016 FPI160002 Robert DePalo Expedited Decision
Nov 19, 2013 2009017195204 Hearing Panel Decision in Department of Enforcement v. Merrimac Corporate Securities, Inc. Disciplinary Decision
Aug 7, 2003 CMS020143 Hearing Panel Decision in Department of Enforcement v. Joseph A. Geraci, II Disciplinary Decision
Nov 30, 2007 E8A2005014902 Hearing Panel Decision in Department of Enforcement v. North Woodward Financial Corp. and Douglas A. Troszak Disciplinary Decision

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